Dutch Bros sees FY24 revenue $1.19B-$1.205B, consensus $1.22B

Sees FY24: “Total system shop openings in 2024 are expected to be in the range of 150 to 165. Same shop sales growth is estimated to be in the low single digits. Adjusted EBITDA is estimated to be between $185 million to $195 million and Adjusted SG&A3 is estimated to be between $183 million and $189 million. The expected costs related to our announced support center expansion in Arizona will be excluded from Adjusted EBITDA and Adjusted SG&A. Stock based compensation, which is also excluded from Adjusted EBITDA and Adjusted SG&A, is estimated to be in the range of $12 million to $17 million. Capital Expenditures are estimated to be between $280 million to $320 million, primarily related to new shop construction.”